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Pakistan, Saudi Arabia agree to negotiate FTA

Pakistan, Saudi Arabia agree to negotiate FTA

Islamabad: Pakistan and Saudi Arabia agreed to negotiate a free trade agreement (FTA) for trade liberalisation and increasing the volume between the two countries.

Pakistan offered Saudi Arabia to negotiate the FTA directly or sign a preferential trade agreement (PTA) first for providing mutual trade opportunity in each other’s markets, said Commerce Secretary Muhammad Younus Dagha in a briefing to a Saudi trade and investment delegation.

From the Pakistani side, the delegation was led by Dagha and comprised officials from the commerce ministry and Board of Investment (BOI) whereas Energy, Industries and Mining Adviser Ahmad Al Ghamdi headed the delegation of Saudi Arabia.
Both sides discussed comparative advantages of the FTA and to further negotiate the tariff lines for providing mutual opportunity in trade and investment.